In recent news, home prices continue to rise as the summer season heats up.CoreLogic reports that last April indicated a price surge of 6.9% higher than last year. This is 1.6% higher than the month before that. From then, prices continue to climb higher up the ladder. Their forecast indicates an increase of 5.1% in the next 12 months.But despite the recent hike, the … [Read more...] about Need-to-know: Setting First-time Home Buyers’ Expectations in the Housing Market
August marked a month that consumers did not have very high confidence in the housing market. In fact, a study conducted by Fannie Mae, showed that consumers did not think right now was a good time to buy a house and many did not think that it was a good time to sell either. Consumers do not seem to be overly optimistic about the job market as it stands right now or for their … [Read more...] about Housing Boom Still not a Possibility
Mortgage rate myths seem to come and go. Rates are higher if there's a Democrat elected. Rates are higher if the American League wins the World Series, and so on. Will there be a mortgage rate reaction this next Wednesday morning?An article in today's Wall Street Journal provided a punch list of what business executives would expect if Obama or Romney were elected … [Read more...] about Rates Always HIgher After An Election. Or Is It Lower?
Did your mortgage company make you mad? Did your loan officer make all sorts of promises and didn't keep one of them? Thinking about changing mortgage lenders midstream before your escrow closes?Such a switch is, to put it mildly, cumbersome. It's not a situation where you can transfer your loan application and all the associated documentation or picking up the phone and … [Read more...] about The Ol’ Switcheroo
Recent ads on TV, radio and online promote a particular mortgage lender that offers to create a special mortgage with a payoff period designed specifically for you. That's actually a good thing. Most consumers think there are two mortgage terms, a 30 year mortgage and a 15 year mortgage. Yet in reality most any term can be created in a mortgage loan. The difference might be … [Read more...] about Your Mortgage. Um, YOURmortgage